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Gapper Dummy Trade - Joy Global Inc. (Public, NASDAQ:JOYG)
Fri, Sep 05 at 11:37 AM
Gapper Dummy Trade - Joy Global Inc. (Public, NASDAQ:JOYG)
I got a late start to my trading day due to some personal business. The first thing I did when I came in around mid-morning, was check the Trade-Ideaspre-market scans for gappers. JOYG was ripping lower in pre-market due to earnings. At 11:00 - 11:15 both JOYG and BUCY (sympathy play) printed NR7 (TI scan of watch list) on the 15 minute timeframe and that was my cue to get short. Both stocks exceeded the prelim. target (38% Fib. extension of the previous day to the ORL) helped along by lower oil, I suspect.
NASDAQ Technical Picture - Dumping Tech
Fri, Sep 05 at 11:37 AM
Wednesday, September 03, 2008
NASDAQ Technical Picture - Dumping Tech
Weak global demand for energy and commodities is permeating to technology as the NASDAQ continues to sell-off. The demise of the Ospraie hedge fund is likely spreading fear and other funds are probably busy unloading. S&P strength was courtesy of financials and consumer discretionaryEconomic calendar: Initial claims, productivity in pre-market; ISM services at 10:00, and Crude inventories at 10:35. Also ADP employment in pre-market.
Labels: NASDAQ
Pre-Market
Fri, Sep 05 at 11:37 AM
Pre-Market
Futures testing yesterday's lows following initial claims which were higher than expected. Productivity better than consensus. Same store sales is a mixed bag of beats and misses.
Gapping Up: CLNE, SOLR,
Gapping Down: CIEN, HOV, SHPGY, TEX, HIBB, HRB, PNRA
Crude oil inv. at 10:35
Labels: Pre-Market
Chopfest - Apple Inc. (Public, NASDAQ:AAPL)
Fri, Sep 05 at 11:37 AM
Chopfest - Apple Inc. (Public, NASDAQ:AAPL)
Despite the big drubbing, I found the markets choppy and difficult to find good spots. Here are two trades that worked out.
Labels: AAPL
NASDAQ Technical Picture - Bears Own It
Fri, Sep 05 at 11:37 AM
NASDAQ Technical Picture - Bears Own It
A gap down on weak data and mixed retail sales followed by a 4th successive day of broad based declines for the NASDAQ. After hours, futures continue to stair step lower. Tomorrow's jobs data will likely add to the volatility. Hearing that more hedge funds are liquidating.Labels: NASDAQ
Weekly Low BO - Ctrip.com Intl Ltd (Public, NASDAQ:CTRP)
Fri, Sep 05 at 11:37 AM
Thursday, September 04, 2008
Weekly Low BO - Ctrip.com Intl Ltd (Public, NASDAQ:CTRP)
I have been periodically trading CTRP from the short side. Following the earnings based run-up in August, I have been looking for another good short opportunity. The weekly chart below shows price range and volume contraction after the week of the earnings release. Given the weak market, I was anticipating a possible BO of the prior weekly low.
Below, the daily chart (left) and the 15min chart (right) show that weekly price pivot (PP) level. This morning price tested that level and then formed a 15min NRIB on that key level. The entry was against the NRIB. The fact that the NRIB formed below the opening range low (ORL) and near the down-sloping 5ema added confidence. The weakness in the overall market helped tremendously. I took a partial on what looked to be capitulation (vertical price move on high volume). I then trailed a stop and decided to hold the remaining position for an overnight trade. Closing at the extreme of the daily range (the low in this case) on heavy volume is a valid reason to hold a trade for potential overnight follow thru.
Pre-Market
Wed, Sep 03 at 10:00 AM
Pre-Market
Futures sharply higher as oil plunges following a much weaker Hurricane Gustav cat. 2 vs. cat. 4.
Gapping Up: Select airlines and mortgage/financials also AAPL added to focus list at Piper, LOW upgraded to Buy at Goldman, LEH Korea back in the picture.
Gapping Down: Select oil/gas, metals/mining, and Agchem names
Labels: Pre-Market
Watch List Trades - Energy Conversion Devices, Inc. (Public, NASDAQ:ENER)
permalink: http://4.bp.blogspot.com/_LsWQWmRqnWY/SL3YNSgzmZI/AAAAAAAAEtU/gxchAgT5ynE/s1600-h/aapl.png
Wed, Sep 03 at 10:00 AM
Watch List Trades - Energy Conversion Devices, Inc. (Public, NASDAQ:ENER)
ENER set up a perfect bear flag on weaker oil this morning. I took a partial as price started to retrace and covered the balance as price approached the round $ number $70.
AAPL is a trade from Friday. I had previously mentioned AAPL as a focus list stock at the intraday pivot point $172.00 as significant. Hope you guys had your alerts on. It set up perfectly and my alert warned me that price was in play. I missed the big move today because of a power failure. The power went off some time between 1:15 and 1:30. By the time it came back on and I was up and running again it was almost 2:30 EST and the big moves were in, so I called it a day.
FLS - I've been trading this one daily for a week or so.
CNQ - another oil play, had nice volume on the BO bar, but no follow through.
Gap Scan Trades - DELL and PETM on Friday were both more or less scratches. LOW was released as a buy stop at $26.64 just as power failure occurred. Happily, price never triggered as markets headed south.
Labels: Bearish_Flag, Pivot Point
NASDAQ Technical Picture - Hello Volatility
Wed, Sep 03 at 10:00 AM
Tuesday, September 02, 2008
NASDAQ Technical Picture - Hello Volatility
A huge opening gap quickly turned into fade as oil started to recover from pre-market lows following a less powerful Gustav hurricane than previously feared. Into midday, and as prices completely filled the gap, it appeared as if the market might stabilize and possibly reverse, but shortly after lunch the bears stepped up the pace and volume/volatility accelerated as Friday's supports were taken out.
The above chart of light sweet crude bears watching as prices react to key technical levels. We have just lost the 38% Fib. retracement level and the 200 DMA on a hammer reversal bar. Prices did attempt to rally from the trend line but failed. The next key level if the hammer doesn't follow through is the 50% Fib. retracement level which conveniently lines up with the psychologically significant $100.00 price level. I suspect that the big money is waiting and ready to buy at $100.00 so we should see an important technical bounce.
No Pre-Market post tomorrow.
Labels: NASDAQ
Pre-Market
Sat, Aug 30 at 05:38 AM
Pre-Market
Revised GDP of 3.3% vs. 2.7% consensus is giving a big boost to the futures.
Gapping Up: ENER, MBI, TIF, MW, VCLK, JAS, SEED, BT (upgraded to Buy at Goldman) select gold and metals on higher spot prices ABX... select financials on MBI news WB, C, AIB, MER, BAC, FRE, FNM
Gapping Down: CHU, GA, FCEL, WSM, ALDN, GILD
Labels: Pre-Market
Wide Gap (3 Pivot Point Base & Break) - MBIA Inc. (Public, NYSE:MBI)
Sat, Aug 30 at 05:38 AM
Wide Gap (3 Pivot Point Base & Break) - MBIA Inc. (Public, NYSE:MBI)
The first chart is the 15 min. time frame for MBI, a wide gapper with high pre-market volume which I traded today.The second chart is the 1 minute time frame which highlights the key criteria to look for when scoping out the wide gap 3 pivot point base and break.
I developed this setup to trade wide, high volume gappers because they always seem to break long before the 5 period EMA catches up to price on the 15 minute time frame. Since proximity between price and the 5 ema is a criteria for a solid entry point on the 15 minute time frame, I was never sure of the correct timing and often let these setups pass me by. The last two charts show how far the 5 ema was lagging after the BO and just prior to the BO. In fact on this trade, price and the 5 ema never met until after the target (38% Fib. extension of the previous day low to the ORH) was achieved. A wide BO bar that closes strong helps pull the 5 ema closer to price.
The attributes I look for on the 1 minute chart are:•3 pivots near the OR (high/low for shorts) define the base, ideally the pivots form near a whole or half dollar level;
•price prints higher lows (lower highs for shorts) after each pivot;
•tight price/volume contraction just before the BO.
•50 SMA breaks in close proximity to shorter MAs prior to or at BO.
The 15 minute opening range is key as in any gapper trade. A solid candlestick in the direction of the gap is the first observation to make. High volume is also an important success factor.
NASDAQ Technical Picture - Follow Through
Sat, Aug 30 at 05:38 AM
Thursday, August 28, 2008
NASDAQ Technical Picture - Follow Through
Solid follow through as the broader averages led tech on day two of the bounce. A better than expected GDP report and news of MBI's decision to reinsuremuni-bonds helped propel the markets higher along with big declines in oil.
After hours DELL, MRVL, and SIGM reported disappointing earnings and the NQ futures gave back half of the days gains.
Labels: NASDAQ
Pre-Market
Sat, Aug 30 at 05:38 AM
Friday, August 29, 2008
Pre-Market
Futures trading lower this morning with the NASDAQ pacing the way following disappointing earnings from DELL last night. Oil spiking as storm approaches and dollar modestly weaker.
Gapping Down: DELL, ABK, BPOP, SIGM, FNM, KLAC, TOL
Labels: Pre-Market
Here's the start of Feedwhip's latest snapshot
taken Fri, Sep 05 at 11:37 AM
Wall St. Warrior
Day Trading Strategies based on Technical Analysis, Candlestick Charting. Highly Leveraged towards Gaps, Base & Break, and Pivot Points.Thursday, September 04, 2008
Weekly Low BO - Ctrip.com Intl Ltd (Public, NASDAQ:CTRP)
I have been periodically trading CTRP from the short side. Following the earnings based run-up in August, I have been looking for another good short opportunity. The weekly chart below shows price range and volume contraction after the week of the earnings release. Given the weak market, I was anticipating a possible BO of the prior weekly low.[image: CTRP_Weekly.png]Below, the daily chart (left) and the 15min chart (right) show that weekly price pivot (PP) level. This morning price tested that level and then formed a 15min NRIB on that key level. The entry was against the NRIB. The fact that the NRIB formed below the opening range low (ORL) and near the down-sloping 5ema added confidence. The weakness in the overall market helped tremendously. I took a partial on what looked to be capitulation (vertical price move on high volume). I then trailed a stop and decided to hold the remaining position for an overnight trade. Closing at the extreme of the daily range (the low in this case) on heavy volume is a valid reason to hold a trade for potential overnight follow thru. [image: CTRP_Weekly_Short.jpg] Labels: Capitulation, NRIB, ORL, Pivot Point
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posted by Jim at 9/04/2008 09:13:00 PM2 commentslinks to this post[image: icon18_email.gif][image: icon18_edit_allbkg.gif] [image: button1-bm.gif]
NASDAQ Technical Picture - Bears Own It
[image: comp.png] [image: namo.png]A gap down on weak data and mixed retail sales followed by a 4th successive day of broad based declines for the NASDAQ. After hours, futures continue to stair step lower. Tomorrow's jobs data will likely add to the volatility. Hearing that more hedge funds are liquidating. Labels: NASDAQRead More
posted by Jamie at 9/04/2008 08:21:00 PM0 commentslinks to this post[image: icon18_email.gif][image: icon18_edit_allbkg.gif] [image: button1-bm.gif]
Chopfest - Apple Inc. (Public, NASDAQ:AAPL)
[image: aapl.png]Despite the big drubbing, I found the markets choppy and difficult to find good spots. Here are two trades that worked out.[image: leh.png] Labels: AAPL
Read More
posted by Jamie at 9/04/2008 04:05:00 PM5 commentslinks to this post[image: icon18_email.gif][image: icon18_edit_allbkg.gif] [image: button1-bm.gif]
Pre-Market
Futures testing yesterday's lows following initial claims which were higher than expected. Productivity better than consensus. Same store sales is a mixed bag of beats and misses.Gapping Up: CLNE, SOLR,
Gapping Down: CIEN, HOV, SHPGY, TEX, HIBB, HRB, PNRA
Crude oil inv. at 10:35 Labels: Pre-Market
Read More
posted by Jamie at 9/04/2008 09:18:00 AM0 commentslinks to this post[image: icon18_email.gif][image: icon18_edit_allbkg.gif] [image: button1-bm.gif]
Wednesday, September 03, 2008
NASDAQ Technical Picture - Dumping Tech
[image: comp.png]Weak global demand for energy and commodities is permeating to technology as the NASDAQ continues to sell-off. The demise of the Ospraie hedge fund is likely spreading fear and other funds are probably busy unloading. S&P strength was courtesy of financials and consumer discretionaryEconomic calendar: Initial claims, productivity in pre-market; ISM services at 10:00, and Crude inventories at 10:35. Also ADP employment in pre-market. Labels: NASDAQ
Read More
posted by Jamie at 9/03/2008 10:05:00 PM0 commentslinks to this post[image: icon18_email.gif][image: icon18_edit_allbkg.gif] [image: button1-bm.gif]
